silver lining?

PLA is by far my worst performer, out of a still bombed out mining portfolio. I have held through the recent sell off caused by the European Debt crisis and for PLA made worse by the train crash of a March quarter (which was however expected considering the Pothole, Lightning and strike).

Good to see price above 75p again and I am looking for a silver lining to all these dark clouds.

1. Key shareholders have held through the crash.
2. PGM prices moving up again.

3. Recent presentation shows 12,000oz PGM production for June quarter. This presentation was done end May so I am hoping that the quarter result is in line, which gives a good improvement although work still needs to be done.

4. Looking for some good resource news on Kalplats together with the DFS which should be out this month. From past information there have been comments that deposits are open at depth and strike and that there are observed reef extensions into the additional JV area. Hope to see some firmer numbers being quantified.

There have been voiced some valid concerns that PLA have shown that they are a good explorer but not a PGM miner as they struggle with Smoky Hills. I am still prepared to give PLA the benefit of the doubt as PGM mining is difficult and a few quarters in any mining operation is a short period of time to assess whether the long term production targets will be met. Also if a substantial part of the mining operation is subcontracted out then is it still valid to claim PLA are inexperienced at mining? The experience of the Subcontractor then also becomes a factor and I understand that Redpath have been around for a while.

BR
Max